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EOS Long-term Price Analysis – March 30

EOSUSD Long-term Trend – Bullish

  • The cryptocurrency may keep its momentum until it reaches its 14-day SMA, but if it is broken it may turn EOS down headed to its 50-day SMA.
  • The bulls may however build up their position around the 14-day SMA.
  • Distribution territories: $5, $5.50, $6
  • Accumulation territories: $3, $2.50, $2

On March 27, EOS’ value suddenly went up against that of the US dollar, and the move has seen it steadily increase. The cryptocurrency is currently trading over the $4 mark, after coming from a range between the $4 and $3.5 marks.

EOS Chart by TradingView

Its 14-day SMA was defining the upper limits of its range while the 50-day SMA was defining the lower limits. The Stochastic Oscillators recently dipped into the overbought zone, which could be an indication the bullish movements are starting to turn into consolidation.

The cryptocurrency may keep its momentum until it reaches its 14-day SMA, but if it is broken it may turn EOS down headed to its 50-day SMA. The bulls may however build up their position around the 14-day SMA.

What do you think?

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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